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Market Update

Maruti, Tata Motor and Ashok Leyland January Sales Rise in India

Author: Mukesh Buch
Last Update: 9:09 AM ET February 02 2015

6:00 PM Mumbai – Ashok Leyland said January total auto sales soared 36% but Bajaj Auto sales slipped 9%. Bharat Forge net more than doubled. Eicher Motors sales climbed 25% while M&M tractor sales fell 26%. Tata Motors sales rose 5%. Tech Mahindra net rose 12%.

Stocks in Mumbai were on defensive after automakers reported mixed results.

Maruti Suzuki said total vehicle sales surged 13.7% in January from a year ago month and domestic sales increased 8.7% to 116,000.

Tata Motor said commercial and passenger vehicles sales jumped 5% to 42,582 from a year ago month. Passenger car sales soared 19% to 13,047 and commercial vehicle sales were unchanged at 25,574.

The second largest commercial vehicles maker, Ashok Leyland sales in January rose 36% to 10,639 and Mahindra & Mahindra said utility vehicle sales declined 6% to 39,930 units.

Indian rupee closed at 61.84 against one dollar.

The Sensex Index fell 60.68 to close at 29,122.27. The CNX Nifty slid 11.50 to 8,787.40.

Gainers & Losers

Ashok Leyland Limited added 0.6% to ₹66.10 after the commercial vehicle maker said in January total sales rose 36% to 10,639 units compared to 7,847 units in the same month last year.

Bharat Forge Limited jumped 3.2% to ₹1,068.00 after the safety components maker said net in the third-quarter soared 108.93% to ₹196.34 crore.

Total revenues climbed 41.91% to ₹1,216.88 crore.

Bajaj Auto Limited decreased 1.7% to ₹2,347.80 after the second largest two-wheeler maker reported total sales in January slipped 9% to 2,88,746 units compared to 3,18,171 units in same period a year ago.

Eicher Motors Limited gained 1.6% to ₹16,589.60 after the auto maker said its subsidiary VE Commercial Vehicles'' total sales climbed 25.1% to 3,262 units from same period last year.

Indian Bank rose 0.9% to ₹187.25 after the financial service provider said net in the third-quarter increased 4.92% to ₹277.52 crore.

Net revenues rose 5.08% to ₹4,321.46 crore.

Mahindra & Mahindra Limited decreased 1.5% to ₹1,243.85 after the tractor maker said total tractor sales in January dropped 26% to 14,913 units from a year ago period.

The company’s total domestic tractor sales declined 29% to 13,852 units but exports surged 47% to 1,061 units from same period last year.

Tata Motors Limited jumped 1.3% to ₹592.30 after the truck and motor vehicle maker reported in January total sales rose 5% to 42,582 vehicles compared to same period a year ago.

Tata Motors'' passenger vehicles sales jumped 19% to 13,047 units and passenger cars soared 38% to 11,637 units while the utility vehicles sales plunged 44% to 1,410 units from same period last year.

Thermax Limited fell 0.5% to ₹1,140.35 after the engineering solution provider reported net in the third-quarter climbed 14.34% to ₹76.20 crore.

Total revenues jumped 11.28% to ₹1,153.65 crore.

Tech Mahindra Limited rose 0.6% to ₹2,894.35 after the software services provider said net in the third-quarter advanced 11.9% to ₹805 crore.

Total revenues increased 4.8% to ₹5,752 crore.

Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc